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200212049 capable of being conveyed as such. Any act or omission by Grantor which would result in a violation of any of the provisions of this subsection shall be void. 4. Payment of Taxes and Other Impositions. (a) Promptly when due, but in any event prior to delinquency, Grantor shall pay and discharge all taxes of every kind and nature imposed upon or assessed against or which may become a lien on any of the Trust Property (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes), all charges for any easement or agreement maintained for the benefit of any of the Trust Property, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges, vault taxes, and all other public charges even if unforeseen or extraordinary, imposed upon or assessed against or which may become a lien on any of the Trust Property, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to as the "Impositions "). Grantor shall at any time upon request, deliver to Beneficiary (i) original or copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge and (ii) reasonable evidence showing the payment of any other such Imposition. If by law any Imposition, at Grantor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Grantor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any. (b) Nothing herein shall affect any right or remedy of the Beneficiary under this Deed of Trust, without demand but with simultaneous notice to Grantor, to pay any Imposition after the date such Imposition shall have become due. Any sums so paid in discharge of any Impositions shall be payable on demand by Grantor to Beneficiary together with interest at the Default Rate as set forth above. (c) Grantor shall have the right before any delinquency occurs to contest or object in good faith to the amount or validity of any Imposition by appropriate legal proceedings, but such right shall not be deemed or eonstmed in any way as relieving, modifying, or extending Grantor's covenant to pay any such Imposition at the time and in the manner provided in this Section unless (i) Grantor has given prior written notice to Beneficiary of Grantor's intent so to contest or object to such Imposition, (ii) the legal proceedings could not reasonably be expected to result in the sale, forfeiture or loss of the Trust Property, or any material part thereof, to satisfy such Imposition prior to final determination of such proceedings and (iii) Grantor shall (A) establish reserves in conformity with GAAP with respect thereto on Grantor's books or (B) furnish a good and sufficient bond or surety as requested by and reasonably satisfactory to the Beneficiary, in each case in the amount of the Impositions which are being contested plus any interest and penalty which may be imposed thereon and which could become a lien against the Real Estate or any part of the Trust Property. 5. Insurance. Grantor shall maintain or cause to be maintained at least such insurance in at least such amounts against at least such risks as is provided in the Note Purchase Agreement. 032375.0313 -01038- NY012224898,4